Reliance Trust Co. of Delaware trimmed its position in shares of Visa Inc (NYSE:V) by 5.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,439 shares of the credit-card processor’s stock after selling 971 shares during the period. Reliance Trust Co. of Delaware’s holdings in Visa were worth $2,177,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Earnest Partners LLC purchased a new stake in Visa during the 4th quarter valued at $100,000. AlphaOne Investment Services LLC purchased a new stake in Visa during the 4th quarter valued at $108,000. Financial Gravity Companies Inc. bought a new position in Visa in the 4th quarter valued at $112,000. First Dallas Securities Inc. bought a new position in Visa in the 4th quarter valued at $125,000. Finally, Slow Capital Inc. bought a new position in Visa in the 4th quarter valued at $132,000. 80.53% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP James H. Hoffmeister sold 6,912 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vasant M. Prabhu sold 25,064 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
V has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a research report on Thursday, July 19th. UBS Group initiated coverage on Visa in a research report on Friday, May 18th. They issued a “neutral” rating and a $141.00 price objective on the stock. Wedbush upped their price objective on Visa from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, June 6th. Raymond James reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of Visa in a research report on Tuesday, July 24th. Finally, Wells Fargo & Co upped their price objective on Visa from $155.00 to $161.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Three analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. Visa currently has an average rating of “Buy” and an average price target of $147.87.
V opened at $140.04 on Wednesday. Visa Inc has a 12-month low of $102.26 and a 12-month high of $143.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market cap of $287.50 billion, a PE ratio of 40.24, a PEG ratio of 1.77 and a beta of 1.06.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.11. Visa had a return on equity of 36.09% and a net margin of 47.91%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. equities analysts expect that Visa Inc will post 4.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, August 16th. Visa’s payout ratio is 24.14%.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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